Startup Originals Team
In a significant move for India’s travel-tech sector, EaseMyTrip cofounder Prashant Pitti has resigned as Managing Director with immediate effect. The announcement marks a new chapter for the company as it undergoes major leadership and strategic changes.
Prashant Pitti’s Resignation and Future Plans:
Prashant Pitti decided to step down to dedicate more time to mentoring young startups, exploring new entrepreneurial ventures, and engaging in urban public-good initiatives like traffic solutions. Though resigning from the managing director role, he will continue as a promoter and long-term stakeholder in EaseMyTrip, reaffirming that there are no intentions from promoters to sell their shares.
New Leadership and Board Changes:
Following Prashant’s exit, the board has appointed Nishant Pitti as the new Chairman and Managing Director (CMD), subject to shareholder approval, with Vikas Bansal joining as a Whole-time Director. Nishant, who previously stepped down as CEO earlier this year (when Rikant Pitti took the CEO post), will now steer the company’s expansion beyond travel into new business verticals.
Promoters’ Commitment and Salary Decisions:
EaseMyTrip’s promoters, including Nishant and Rikant Pitti, have voluntarily decided to forgo their salaries to reinforce shareholder trust and confidence. The company reiterated that no further promoter shares would be sold, underlining a strong commitment to the long-term growth of the company.
Business Performance and Market Response:
The reshuffle comes on the heels of a difficult financial quarter for EaseMyTrip. Revenue for Q1 FY26 dipped by 25.5% to ₹114 crore (from ₹153 crore the previous year), and profit after tax dropped sharply by nearly 99% to ₹44 lakh. EaseMyTrip’s shares saw a dramatic fall, trading at ₹8.35 after the announcement, a 96% drop from its listing price. The company’s market capitalization currently stands at around ₹3,036 crore.
Board Approvals and Additional Developments:
The board also approved the appointment of M/s SMD & Co. as Secretarial Auditor for two years and amendments to the company’s Memorandum of Association. These organizational updates are part of efforts to strengthen governance as EaseMyTrip evolves its business model.
All information presented here is drawn from recent board announcements, statements from company leadership, and trusted financial media for an up-to-date, factual perspective.
